Best of Dennis…
Dennis is tending to his health again but is on the mend and will be back next week. Here’s another article that is very relevant today and worthy of a re-read. This article was originally posted on August 19, 2021.
The Jig Is Up!
“Today Congress is constantly besieged by minority groups seeking benefits from the public treasury. Often these groups control enough votes in many Congressional districts to change the outcome of elections.
And so, Congressmen find it difficult to persuade themselves not to give in to pressure groups.
With no bad immediate consequence, it becomes expedient to accede to a spending demand. The Treasury is seemingly inexhaustible. Besides the unorganized taxpayers back home may not notice this particular expenditure — and so it goes.”
Senator Howard Buffett published this thesis, Human Freedom Rests on Gold Redeemable Money on May 6, 1948. Senator Buffett feels the gold standard and gold ownership are indispensable elements for human freedom: (My emphasis)
“…. When you find that Lenin declared and demonstrated that a sure way to overturn the existing social order and bring about communism was by printing press paper money, then again you are impressed with the possibility of a relationship between a gold-backed money and human freedom.
In that case then certainly you and I as Americans should know the connection. …. In a free country the monetary unit rests upon a fixed foundation of gold or gold and silver independent of the ruling politicians.”
Almost 30 years later (1975) citizens were finally allowed to own gold.